Who Signs the Form & Does it Protect Me From Tax Liability?

almost 3 years ago, i helped my boyfriend with a down payment on a home in arizona which is now upsidedown. he does not qualify for a loan modification or refinance as he is not with a fannie mae/freddie mac lender. he has tried for months to do what is financially responsible, but has had doors closed at every step of teh way, given the current economy and credit crunch. long story short, we believe he would be better off to walk away (foreclosure or bankruptsy) and instead rent for a while, although we recognize that his credit would be negatively impacted either way. his monthly payment is $2100 per month and rents are now at $1300-$1500 per month. we believe a foreclosure would be easier on his credit than a foreclosure and are researching this.

the (interest only) loan is completely in his name, although both his name and my trust name appear on the recorded deed. i would like to file a quit claim deed so that when he finally walks away, my name will in no way be associated. my questions are: is it true that if he defaults after i remove my name, that my name will not be on the deed? if so, would this mean that i would not be liable for property taxes? as i understand it, if he defaults now, and my name is on the deed, i will have financial liability for property taxes? is there a link to a quit claim deed form for arizona? i believe i need to complete and submit it rather than him, and that it must be notarized. is this true?

any guidance you might offer is greatly appreciated.

many thanks